The latest renewable energy news includes announcements on Recurrent Energy’s 330 MW Cobalt Solar Project in California, Pando Energy’s solar and storage project in Illinois, among others.
Recurrent Energy Secures $695 Million for 330 MW Cobalt Solar Project in California
Recurrent Energy, a Canadian Solar subsidiary, has closed $695 million in project financing and tax equity for the 330 MW Cobalt Solar project in Riverside County, California. The financing includes approximately $484 million of debt led by MUFG and Nord/LB, covering construction and term loans, a tax-equity bridge facility and a letter-of-credit facility. Wells Fargo separately committed $211 million in tax equity. Located about 20 miles west of Blythe, Cobalt Solar is fully permitted and under construction, with commercial operation targeted by the end of 2027. Blattner Energy is serving as engineering, procurement and construction contractor. The transaction demonstrates continued lender appetite for utility-scale U.S. solar projects despite higher capital requirements and increasingly complex financing structures.
Pando Energy Plans $200 Million Illinois Solar and Storage Portfolio Across 16 Projects
Pando Energy Partners has secured exclusive engineering, procurement and construction rights for more than 16 community solar and battery projects in Illinois, creating a portfolio exceeding 100 MW. The initial projects total approximately 108 MW DC of solar capacity, while battery storage installations across eight locations will provide more than 157 MWh. Pando estimates the combined EPC scope at nearly $200 million. The St. Louis-based company will construct the portfolio for a New York developer that has already deployed nearly 1 GW of renewable capacity. Projects are spread across northern and south-central Illinois and will be developed under prevailing-wage standards. The portfolio illustrates how community solar projects are increasingly being paired with storage to improve electricity delivery, manage renewable output and strengthen project economics.
Arevon Starts Operations at 300 MW / 1,200 MWh Nighthawk Battery Storage Project
Arevon Energy has begun commercial operations at its 300 MW / 1,200 MWh Nighthawk Energy Storage Project in Poway, California, making it the company’s largest standalone battery facility. The four-hour storage project can supply enough electricity to serve up to 385,000 homes during peak-demand periods. Nighthawk uses lithium iron phosphate battery technology, selected for operational longevity and its established safety characteristics. Electricity can be stored when system demand and prices are lower and dispatched during periods of higher demand, strengthening grid reliability in the San Diego region. The project adds substantial dispatchable capacity to California’s increasingly renewable-heavy electricity system. Large four-hour battery installations such as Nighthawk are becoming central to the state’s strategy for shifting daytime solar electricity into evening demand periods.
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